LONDON, April 2: Europe's main stock markets mostly rose on Monday, boosted by takeover news in the telecoms sector, dealers said. As the second quarter began, London's FTSE 100 index of leading shares climbed 0.32 per cent to 6,328.30 points and Frankfurt's DAX 30 won 0.26 per cent to 6,934.64 points.
In Paris the CAC 40 dipped 0.04 per cent to 5,631.54 points.
The DJ Euro Stoxx 50 index of eurozone blue chip shares increased 0.15 per cent to 4,187.21 points.
The euro stood at 1.3354 dollars.
Europe's leading stock markets had endured a turbulent first quarter, posting sharp losses at times in the wake of a heavy correction for Asian equities and owing to concerns about a slower US economy.
Shares in Telecom Italia and its principle shareholder Pirelli shot up on news of a bid from the US telecommunications operator ATT and Mexican counterpart America Movil.
Pirelli shares gained 11.12 per cent to 0.92 euros and Telecom Italia surged 11.48 per cent to 2.38 euros in a market that had gained 0.33 per cent overall.
ATT, America Movil and Pirelli are in exclusive talks for the purchase of two thirds of the Italian group's shareholding in Telecom Italia, Pirelli said.
A deal would be worth 2.7 billion euros (3.6 billion euros) to the Italian tyre, cable and real estate group, but it quickly sparked opposition among some Italian politicians.
Other telecoms benefited, with BT Group up 2.06 per cent to 310 pence in London, France Telecom rising 3.14 per cent to 20.39 euros in Paris, and Deutsche Telekom 2.75-per cent higher at 12.72 euros in Frankfurt.
Wall Street had wobbled Friday to a mixed finish as better-than-expected economic data was offset by worries that US trade sanctions slapped on China might spark growing protectionism.
Trading was volatile as investors made portfolio adjustments on the final trading day of the first quarter, and renewed fears about inflation dampened enthusiasm from robust economic reports.
The Dow Jones Industrial Average rose 0.05 per cent to 12,354.35 points, after zig-zagging for most of the session.
The tech-heavy Nasdaq composite gained 0.16 per cent to 2,421.46 points and the broad-market Standard and Poor's 500 index shed 0.12 per cent to close at 1,420.86.—AFP